Bank of the Year, Guatemala: Banco Industrial

Guatemala’s Banco Industrial set a Central
American landmark in October 2012, when it sold a $500 million
cross-border bond. The deal was the largest of its kind from a
non-sovereign issuer in the region.

The 10-year bond, sold during a period of intense interest
from international investors in strong-yielding Latin American
debt, drew $4.5 billion in orders from over 250 accounts. That
encouraged the bank to increase the deal, which pays a 5.5%
coupon, from the $300 million first planned.

For Banco Industrial, the deal was the first step in a
strategy to draw in further international investors. As the
Central American banking landscape changes — with
global banks retrenching and regional players, notably the
Colombians, entering — Banco Industrial hopes to
increase its own stake in the region.

"The growth opportunities are there today, and if we
don’t take advantage of them then other banks
certainly will," Luis...